To link to the entire object, paste this link in email, IM or documentTo embed the entire object, paste this HTML in websiteTo link to this page, paste this link in email, IM or documentTo embed this page, paste this HTML in website

mi COLUMBUS, WEDNESDAY AUGUST 7, 1839. WEEKLY. VOLUME 29. NUMBER 61. PUBLISHED BY C. SCOTT It 8. DOUGLASS, At ttirae Dollarg a year, invariably In advance. 7Vf meek during f fieiin o Ut Legit latur$t and Wtek the remainder f the year. JAMES ALLEN, EDITOR, Office on State ftreet. Two dnon Wert of tlie Clinton Ban FRIDAY, AUGUST 2, 18a9. THE CURRENCY. , None but the knaves who essay to lead the ranks of the Loco Focos, and the simpletons who follow in their footsteps and echo their absurdi-lies, pretend, at this day, to advocate the doctrine of an exclusive metalie currency. The notion of annihilating the leading principles of the credit system, as it now exists in the enlightened and commercial world, and bringing mankind back to the semi-barbarous system of barter, is preposterous, because not feasible, and, because not feasible, criminal. No intelligent and honest member of an enlightened community, can seriously wish to see the wheels of civilization rolled back, and the savage rudeness of by-gone days restored. If such a member of community there he, whose social tastes are formed upon the model of those classic times, in 'McTry England,' when Robin Hood and Litde John, made Sherwood Forest immortal, by despoiling the wealthy traveller when the Norman barons roasted the plodding and usurious Jews upon grindirons to extract from them the secret of their hoards when ho. nest industry was the legitimate prey of the proud and the idle when the end and aim of government was extortion and not protection when ' man seemed to be brought into the world for no other purpose than to be the spoiler and the destroyer of his species if such man now exists, who prefers those days of chivalry, crime, and ignorance, to the sober safety, the virtue, and intelligence of the present, lethini enioll himself in the ranks of the metalie currency lovers, lot him split his lungs in responses to the mysticisms of Benton, lot him tear down the i nslitutions which an enlightened commercial system has created and, when successful in the work ol its demolition, he can then revel in all the luxury of savage life. The credit system is, itself, civilization, and its destruction is not the precutsoi, bill the reality, of barbarism. The currency of the United States, or of any other country that boasts of civil refinement, cannot exist exclusively in a metalie form. This is an axiom, that to the political economist, who has well studied the principles of his science, is as evident as that a part is not equal to the whole. A paper money system is 'not merely indispensable, but it is inevitable, in the state of civilization and commercial perfection, to which wo have arrived. Like every other incident in human existence, it is capable of exerting the most bcnificcnt or most injurious influences upon society, just as its tendencies are directed by wisdom or ignorance. The paper money of our country, just now, proves that ignorance, rather than wisdom, has been actively exerted in its creation and employment. Let the subject be examined with calmness. Two considerations irrosistably force themselves upon the mind of every one, who, in relation to this subject, thinks sensibly and feels patrintical- 1. A paper currency is indispensable in the present state of the country. 2. A paper currency should be established, con-soncnt with the spirit of the age, based on the precious metals, and commanding universal and unchanging confidence. There are now eight hundred or moro banks in the United States. Each, as far as its business relations with other institutions and with the public will permit, is independent. The natural and inevitable conscqucnco of leaving to these eight hundred banking institutions the business of coining paper money, is an over issue of that species of currency. The object of each, and indeed it is the real interest of each, is to furnish as great a share of the common currency as it can, for by doing so it derives a revenue from credit instead of capital, It requires no very extensive acquaintance with tho scionce of political economy to perceive, that the inevitable result, arising from the combined action of the eight hundred banks, each striving to add as much as possible of its own paper to the common currency, must be a vitiated circulating medium. Exposed to the contingencies of individual and public caprice, affected in its value by the circum stances of time, of distance, of location, and of interested opposition, a currency, afforded from such a multitude of varient sources, unconnected in their operations and directed by no common governing principle, can never bo a healthy one, even if the sources from whence it flows should, in themselves, be unimpeachably pure. As well n ight we look for effective results from an army which acknowledges no chief, but in which each regiment follows tho independent volition of its own leader. Each regiment may have all the re buisitcs necessary to military success its ranks may lack neither bravery nor discipline its ofli cors may unite courago with prudence its leader may be accomplished in all that befits his station-but, isolated, and acting without concert with the othor components of the army, its energies will not only be wasted, but general defeat and ruin must be the certain consequence. Similar, it strikes us, must be the tendency of the present system of banking in tho IT. States. Tho whim of abolishing the paper system and establishing a currency exclusively of gold and silver, is loo absurd to enlist the advocacy of any sensible man who will take the trouble to invest! gate the business operations and relations of the country. It would, therefore, be worse than fu. tilo to adduce any arguments against it. Let it remain, where it is, the hobby horse of Loco Foco leaders and aspiring demagogues. The existing evils in our currency must bo remedied by an improvement in the paper system. The history of the last twenty years teaches us and history has ever been acknowledged the very best of teachers that while the U. S. Bank was permitted to move in its appropriate sphere, untrammelled and unscathed by the tyrannical in terference of tho national government, the paper currency of tho country was sound. There must have been a cause for this and that cause is to be traced to the controlling influence which the United States bank exercised over the paper issues of the country. Highly exceptionable as were some of the features of the charter of that institution, one thing must be conceded, that, during its connexion with the government, the country never was more generally prosperous. Enterpriso and industry enacted wonders, because they were supported by public confidence. From the highest to the lowest, from the richest to the poorest, every man was at work, and every man was happy, because he felt that his exertions would be adequately rewarded. Not a beggar, unless it might be some foreign pauper, was to bo seen in our streets. Public improvements roso into existence every where. Money was just plenty enough to meet all exigencies, and paper dollars just as highly prized as silver ones. No man needed gold for the purposes of travelling, because the bills of the United States bank, its drafts or its checks, took up less room, were much more easily carried, and were in just as goodcredit. Exchanges, to any amount, and for any purpose, could be effected between the most distant sections of tho Union, for almost nothing. It is not so now. Specie has disappeared almost entirely, and bank notes circulate with difficulty and distrust. Remittances cannot be effected without immense sacrifices. Where, once, all was active vigor in the business world, there is now a destroying paralysis. Can tho days of our prosperity bo restored! They can but, to restore them, we must retrace our steps. We must either invite Mr. Uiddle back to tho post he occupied nine years ago, or we must invent a new institution that will restore us the blessings we have lost It is gratifying to perceive that the American public is every where awaking to the consideration of this subject. Even in quarters, where, heretofore, the utmost malignity has been manifested towards the mere name of a National Bank, the necessity of creating some controlling institution of the kind is not merely discussed in good feeling, but warmly advocated. That Heaven may enlighten Congress, at its next session, and nfluence them to aid in bringing back to us the good old days of John Quincy Adams, should be the aspiration of every' honest American. "FINISH TUB WORK!" Such is the watchword of tho Van Buren party in Ohio. The moro the whip holders of that party exercise their tinkering propensities on tho banks and currency and finances of the State, the more clamorous are their vociferations for bank reform. In by gone times, the recollection whereof it is pleasant in this harrassing season to dwell upon, these State institutions wcro viewed with the friendliest feelings by this same man-worshipping, bank-hating party. But it was an evil hour for the banks when it began to lavish upon them the caresses of its first lovo. The fruits of that honied season began to manifest themselves in due lime, in a brood of new banking corporations. As, in sickly times, every disease assumes more or less the character of tho prevailing epidemic, so corporations.chartcrcd for entirely different purposes, shot up into little monopolies, and threw off upon community their bank notes. As the results of its own bungling labors the work of its own unskilful hands began to rise up before its astonished eyes, it immediately saw tho necessity of commencing a general process of mending. But here a new dilficul-ty arose. To patch up its own ungainly work alone would expose too palpably its' incompetency and want of qualifications to manago discreetly the complicated machinery of Stato affairs; a doctrine which its disciples were determined not to believe or even suspect, much less acknowledge, como what might. A difficulty 1 Pardon tho mistake. What can be difficult (o a parly so fertile in all tho resources of political cunning, to whom consistency is but a morning cloud, and constitutions a mere cobweb! To hide its own errors, it was only necessary to concoct a general system of patching and cobbling, and stretch it over all the banking institutions in the State. Such asystem was devised, and christened "Bank Rnform." Whereupon, proclamation went forth to all the faithful who go for the man Van Uureu, declaring that every one who did not believe in his heart and acknowledge with his mouth that bank reform was democracy, was no democrat, but a bank bought federalist. A new vision seemed to have been revealed to these political seers, their eyes were unsealed, they saw, for tho first time, with unclouded optics, that tho banking system was radically wrong. The genius of reformation must bo commissioned by this man-party to go through it and overhaul it in all its ramifications. Well, the people do not like to be called hard names -they do not liko to have their democracy questioned. They had boon well enough satisfied with the banks, at least until this party began to meddle with them. They had no particular objections to reform thoy were not sure but it was necessary to the existence of the party's previous bank legislation, and finally gave them, what they wcro mad to obtain, power. Then followed bank reform with a vengeance; a reform exactly in character with all the other reforms which for tho last ten yenrs have distinguished that party; a reform which made reform a hundred times more necessary than it had ever been before. The consequence was, as all sensible men anticipated precisely as it was in other States. The people, indignant at beholding their interests thus tampered with, sent here legislators, who undid this party work as far as they could do it, for years could not entirely undo it. But new and desperate efforts were made. Bank reform was thundered from all the party presses within and without the State, until the public ear was actually deafened with the cry. The gubernatorial candidate took tho field, a thing unparalleled in the political annals of tho State grave senators of the federal legislature laid aside the dignity of their station, plunged into the squabble of Stato politics, and with all the plausibility which party sophistry could weave around the subject, preached it incessantly into the vexed ear of the people. Once more, as demagogues have done a thousand times before, they succeeded in placing the man party in power. And now, thoy have inflicted upon the Slate a new vamped edition of the identical system, which the people here and elsewhere have again and again thrown from their shoulders and trampled under their feet. And while we are again witnessing and smarting under the practical operation of these new fangled theories, though the reformers have given full sweep to their ample powers, and we were fain hoping that the work was well nigh consummated, the cry still is "Bank Reform finish the work." When is there to be an end to this mischief! If this reform be necessary, who created who augments who pcrpetuatos this necessity ! Let every reflecting man ponder well the answer to these questions. THE SMALL NOTE LAW. The ostensible object of the small note law, passed last winter, was to force into circulation a larger amount of gold and silver. This is to be done by withdrawing from circulation all notes of a less, denomination than five dollars, and of course, specie must be had for carrying on the small exchanges. If this could be carried into effect it would bo forcing upon the people a cur rency not of their own choice. The Banks were paying specie for bills before Any body who wanted specie for his bills could have it on demand, and if specie was not demanded, it was because bill-holders preferred bills to specie. Of course, if the law produces any change, it must be against the will of those upon whom it operates.But it will have another effect. The banks are allowed to issue bills to three times the amount of their specie. Their bills under the denomination of five dollars must be withdrawn from circulation and specie paid for them. Upon the specie thus paid out, they had a right to issue three times its amount in bills. Of course, when the specie is withdrawn from their vaults, they must not only withdraw from circulation an amount of paper equal to tho specie paid out, but throe times that amount. The result will be to leave in circulation only one-third as much money, so far as the bill law takes effect, as was in circulation before. 77ie inevitable tendency of this is, to lower the price of produce, and to reduce the price of labor, and to make the payment of debts more difficult. But this is not all. Owing to tho financial difficulties in England, and the consequent reduction of the prices of American cotton in the English market, tho exchanges aro more than ever against this country. America owes England for goods. This debt was to be met by American cotton. Tho price of cotton having fallen, leaves a large balance against this country. The Bank of England wants specie for its vaults; it will, thcreforo, forco payment from this' country in specie. Thus an extraordinary run for specie upon tho banks of this country is from abroad, and to enable the banks to meet this with ease, the Legislature of Ohio, has produced an extraordinary run for specio at home: and for every dol lar of specie paid out, the banks must withdraw from circulation tiirke dollars of paper, or they arc exposed to tho penalties of tho law, for keeping out too much paper for tho specio in their vaults. Let the distress that is coming over this country verify these remarks. Let tho people think of it. We say tho ostensible object of tho law, bo- cause we have no doubt the real object was to do something, without caring much what, to meet the expectations that had been raised by the sense less and rabid cry of "Bank V cform," during the fall elections. What could they have done worse! Again. Let the people who work roR waoks, cr WHO IIAVK PRODUCE TO BELL, Or DEBTS TO PAY, THINK OP THESE TIIINOS. ATTENTION TO POLITICS. Tho study of politics is thought by some peo plo unworthy their attention. Is it really beneath any man to inform himself what is going on among men! What measures aro taken for his happiness or misery! What means are resorted to for tho preservation or ruin of his country! "But there is too much intrigue too much corruption too little of patiiotism and fair dealing!" Indeed 1 This may be nay, it probably is truo. But who is to eludo the wiles and baffle the finesse of designing and wicked men, if the honest and intelligent, the sober and reflecting shrink from their duty! Every American citizen has a birthright to protect, and is in a measure responsible for the public doings of tho nation, How then can any citizen who has sworn alle giance to our government and laws, withdraw himself from this responsibility! The memory of the past ought to move him, the dangers of tho present ought to cxeito his vigilunce, and the time lo como has a claim upon him too strong and too sacred to be shaken off or lightly treated. "But it is not dignified this party warfare has no charms for sober men!" All this may be true. Do you think the starvations and buteherings of the revolution had charms for our forefathers! At present you see a struggle between two great parties. Each party charges that the measures sought to be sustained by tho other are unsafe and tend to the destruction of our best interests. Aught not every man, then, to examine and see which is right, and use every honorable means to oppose the wrong! Let him who will not do so, lay no claims to the character of a patriot. The object is sufficiently good and great to-give character and dignity to the pursuit. Men have been found, and those not a few, who were happy to spend their lives to ascertain the laws which govern the formation of a chrys-tal or the decomposition of a gas. They ; ve braved exposure and fatigue, and wandered over the face of the whole world, to learn tho nature and habits of animals and insects, of reptiles and fishes. They thought it dignified and noble thus to scrutinize the workings of nature. They were right. Why then is It not dignified to study the ways of men the various grades of intellect, and tho laws which govern tho human family! It is only when politics degenerate into personal strife and neighborhood altercations that the study becomes ignoblo and unmanly. It is only by the attention of sober and honest men that an elevated tone can be given to political discussions. Is it not time, then, to give more attention to these matters. Let the public press bo exerted to lay facts before the people. The election is coming on. Let the right be known, and then let it be pursued. Let us show ourselves worthy the high behests that our fathers bequathed to us. Let every man do his duty, and the lesult may be safely trusted to the honest hearted, hard handed, the many headed people. THE CLOVEN FOOT AT LAST. The " Jefl'ersonion," a Van Buren paper published at Carrolllon, speaking of tho Columbus mechanics in connection with the subject of Penitentiary labor, intimates that while they persist iii voting independently and until they put on the yoke, they are to expect no sympathy from that quarter. Hut he goes on to say "As as individual wears prepared to resume our olJ ground upon this subject a subject we had let puss, consequent upon the course of those most interested an soon as the mechanics are prepared to unite with us in the contest." The mechanics have not been in the dark all this time. They have known from the beginning for what object they wore haunted with Stale Auditors, and dogged with Post Office clerks. No sooner do they get up a meeting for consultation and deliberation among themselves, than in stalks an emissary from the Post Office, with pockets full of resolutions, ready to cram down their throats, nolens volens, as if tho mechanics did not know their own business, and wcro to be taken by the nose and led about by striplingquill-drivers from the Post Office. We have no doubt tho Jcffersonian expresses the real sentiments of the party. We do not write this to enlighten the mechanics. They understand their own affairs without any aid of ours, and unless we have mistaken their character, they will not be cajoled from their purpose by offico hunters, nor whipped into submission by the hangcrs-on of tho public treasury. The articlo in the Jcffersonian, shows as clearly, as if traced in lightning along the midnight cloud, the estimation in which mechanics and laborers are held by theso fustian democrats and holiday patriots. They do not seem to know that mechanics, like oilier men, have political principles. They think, if they can hold out to mechanics and laborers the prospect of removing a grievance which has no connection whatever with political questions, and of putting a litllo more money in their pockets, they will be ready to forswear their long cherished principles, to forget their love of national freedom and individual liberty, a:id basely truckle to the usurpations and connive at tho detected frauds which already weigh down the present Administration. We are mistaken, if the present be a time, when such humiliating propositions can be mado with impunity to the honest and hard working people of America. DEMOCRATS LOOK AT THIS. The last Statesman contains the following: "Poor fellows, they must have sweat wonderfully this hot weather lo have brought forth such magnanimous notions especially as the Whig Jteairdrr of Buffalo was receiving about the same linio a most low and vulgar as well as lying speech of Mr. Clay, to his honor in lliiliah style!" Where are theold Democrats of 1811, 1 3 1 4 and 'IS! How long will they bear such wanton insults from the Stato Printer! During the last war Mr. Clay was tho champion of Democratic principles in tho House of Representatives. Every Democrat of the country was prourl lo own him. Their pulses beat high with nationid prido as they heard their sentiments echoed through the capitol in tho manly and impressive tones of his voice. Mr. Clay was ulso chosen by tho Democratic President and approved of by tho voice of tho nation to assist in making the treaty of peace. Who but Mr. Clay saved the Union from dissolution during the agitation of the Missouri question! Who but Mr. Clay saved tho country from thn distractions of nullification and tho horrors of civil war by effecting a compromise upon tho Tariff question! While Mr. Clay and General Harrison were serving their country, in times of darkness and danger one loading tho councils of tho nation in Congress the other leading her victorious armies in the field where and what was then tho State Printer, that he should now be allowed to in sult the sense of the nation and besot the characters of these well tried patriots, with continual detraction and abuse! Though living, their fame and and their names have long since become national property, honored at home and respected abroad. They have stood and still stand among the brightest stars in the constellation of American patriots. And yet, the State Printer, true to his vocation, and worthy of his hire, attempts to blacken their memory and blight their fair fame by such reckless libels as that quoted above. He, the editor of the Statesman, steps out in front of the old Democrats of the last war (if, indeed, nny such read his paper,) and calls Henry Clay "low! vulgar!!" and a LIAR!!!" Will the old Democrats, who have seen their country in danger, and the young Democrats who emulate the charactorof their fathers, sufferthem-selves to be thus insulted, and their old and long tried champion thus traduced! Their answer will bo an indignant " NO!" Tho people will blame no one for a fearless and manly discussion of political principles. They like that. It is a right, to preserve which they have sacrificedthe blood and treasure of two wars. But when it degenerates into a reckless abuse of those honored and distinguished men who havo struggled longest and hardest to preserve their liberties, they will think it high time for a virtuous, intelligent, high-minded, and patriotic peoplo to let their voices be heard in a decided and eloquent rebuke. OFFICE! OFFICE!! OFFICE!!! " Give us more office ! " is tho continual cry with which the present Administration is beset by its hungry partizans. Not content with tho gen eral turning out of office of all who opposed the high handed and dangerous measures of the Jackson Van Buren Dynastv, the clamor is still kept up against tho few, who, from some cause or other, have been mado exceptions to tho general proscription for opinion's sake, and still remain in office. Speaking of the few whigs who have not been ostracised, and wondering why the screws havo not been applied to all, the Statesman expresses indignation and astonishment at this for bearancc, and says "We are satisfied that these things are not consis tent with the President's feelings, then in the name of patiiotism why are tliey continued 1" So the President is not to blame. Freedom of thought and opinion "are not consistent with tho President's feelings." Why then "in the name of patriotism" is any man who ventures to think for himself allowed to hold an office! But hark, again "Why are the many worthy applications of those friendly to Ilia administration turned aside, and this worthless race of whig dandies and loafers continued to the third and fourth generation mere paupers upon the government I " A "worthless race of dandies and loafers" might not seem to the Statesman quite so bad, but then, when you come to talk of "wiuu" dandies and loafers that is altogether too much for Locofoco flesh and blood. It is also provoking, that after the President has multiplied the offices and expenses of Government, tlicro are still "many worthy applications of those friendly to the ad ministration turned aside"!! However, there is some consolation in the idea that this is "not consistent with the President's feelings." Ho would gladly stop every "dandy's and loa fer's" throat with an office, providing ho were not a "whig" dandy and loafer. It doubtless is very trying to his sensibilities, to ' turn aside" the "many worthy applications" of his fiiends, lo be permitted to become, "paupers upon the go vernment? but then ho will be able to do the handsome thing by them, if he should ever succeed in establishing tho thousand legged Treasury. Do not let your friends despair, Mr. States man, there is no dandy or loafer, except "whig" dandies and loafers, who may not aspire, sooner or later, to become a SwARTwouTor a Prick !! rRF.CEPT vs. PRACTICE.. The President, Martin Van Buren, recommends to the peoplo In keep THEIR TREASURE in tho hands of individuals as Sub-Treasurers, and declares he will "sink or swim" with that measure. Ho sees tho money of tho peoplo lost by' millions in this way, but it does not effect his pocket and therefore ho persists. But when he started from Washington on his Northern electioneering tour, he deposited HIS OWN PLATE (which we havo no doubt is very valuablo, as this pretended democrat lives in princely style,) IN THE BANK. This fact, as the Stato Printer would say, "speaks trumpet trngucd, and in a Otoe of UtuiuUr" .gqinvt tha sincerity of Van Buren's professions. This conduct is more eloquent than ten thousand sermons. He recommends to the people to keep THEIR money in the hands of HIS Sub-Treasurers. Why does he not do the same with hi own! Tho only answer is, he is afraid it will take lo itself legs and follow the Swartwotits and tho Pi ices. Samuel Medarv Rksionkd! The last Statesman, after noticing Mrs. Webster's dress, adds tho following: "This is none of nnr business, hut we were just thinking where the Jt,t!5,000 "rint" had gone! Oh dear, lovely whiggury ! !" None of your business! 1 What! are you serious! Do you actually mean to say it is none of your business what Mrs. Webster wears 1 1 Have you actually resigned your functions as general inquisitor of ladies' gowns andchildrens' diapers! What will tho Statesman do for somebody to occupy the large portion of its columns hitherto devoted lo that kind of intelligence! From the Correspondence of the Nona American. Nsw Yonit, July 28, 3 P.M. Arrival of the British Hucen. SIX DAYS LATER FROM EUROPE. The steamer British Queen arrived this morning; from London via Portsmouth, bringing London papers of the evening of the 1 1th and Liverpool papers of the lOib of July. She had not her sails set Iwenty-four hours during the passage. The wind had been uniformly "dead ahead," blowing very fresh at all times and causing a very heavy head sea. Her coat has been estimated at 1375,000, which includes her furniture and fixtures of every kind. She is 1863 tons burden, builders' measurement, and upwards of 3000 tons by .custom house measurement. Her model ia purely American her paddle wheels have not taken sufficient hold of the water to propel her at a rate equivalent to the power of her engines; but this will be remedied by taking in a full cargo or several hundred tons of iron ballast in New York previous to her sailing on the 1st of August, in company with the Ureal Western, no enort will De spared to got ber off on that day. Among the passengers by the Queen are Mr. Mudgs and Mr. Featherstonhaugh, appointed by the English Uovernmeut to mate a new survey or the Boundary Line between Maine and New Brunsick. Our dates are up to the evening of the 12th day, on which it was universally expected that the Bank of England would raise the interest to six per cent. The notice, however, did not take place, though it was intimated from the Bank Parlor lhat the interest would probably be advanced on the following Thursday, the 18ih. The Spinners at Manchester have renewed their agreement to " woik short," notice of which was published in London on the 11th, and it waa supposed that a further decline in cotton would probably follow. The bullion in possession of the Bank of England has been still farther reduced whilst the accounts from the manufacturing districts are entirely gloomy as to the export trade. This all tends to the impossibility of describing any real improvement in the general condition of monetary affairs. American securities remain all unsaleable, unless at the most ruinous quotations, with the exception of the shares of tha Bank of the United Stales, which have been sold in considerable amounts at 23 7s 6d, and this afternoon were withheld by one influential party unless at 23 10s. Even one offer for the best of the Pennsylvania Stocks, at a price lower than 90, has gone off without effect, and there is indeed no great improvement since the departure of the Great Western steam ship. In tlie Cotton market affairs have become even considerably worse; for the fall at Liverpool has been no less thau J per lb. during the short lime which has elapsed since the Great Western sailed. A letter from im mnal AininRiit firm ill tliA trurtn BtnfA ilia, ih largest spinners buy only from forty to fifty bales per day, merely to Keep open trie mills; and any person desirous of speculating might almost make his own prices." 1 no oisturDances at Birmingham eontinue, but the Chartism have not attempted to make head against the regular troops nor bad any lives been lost in the various frays with the police. Mr. Lovett, the secretary, and Dr. Taylor and Mr. Harvey, two of the most revolutionary members of the convention, have been arrested and aro now in Warwick Jail. There is no doubt that as now organized, the Chartist movements may be very easily suppressed; but should Mr. Attr wood, as some parties appear to anticipate, attach himself to that parly, the lids of population which would follow such a leader would probably trample under foot both the police and the troops. There is, however, no real reasons for supposing lhat Mr. Alt-wood would hastily take the final step in a revolutionary cause; though once driven into oppositon to the government, this man has the power unquestionably lo be the author of the miehlieat events. Tha Whig minialry remain in power, and are nightly procuring the ruling of the supplies, and taking every means of drawing the Parliamentary session to a close. The time of the prorogation is not yet fixed nowever nor is now prooaoie wai uie rariiamenl will be absolutely dissolved. Tlie troops of Holland are quietly taking possession of the long disputed territory of Hamburg and Luxemburg, and the large army which has been so long kept up by that power on the Belgian frontier, is gent ly dispersing. The packets from New York arrived at Liverpool on the Uth, with dates to the 10th of June. London, 10th, 3 o'clock, P. M. The funds have an upward tendency. Consols for the month of August are quoted st 92a$. Jiank stock is steady at 192, and the reduced Three and a Half per cents, have risen to 100 1-8. Rates of discount continue at S to 5 J on the first bills, and 6 for those of secondary character. The failure of a most respectable firm in the Stock E xchange to a considerable amount is announced in the Londou evening papers of the 10th names not mentioned. Paris papers of Monday the 8th, publish a letter from Vienna, dated 28th June, taken from jfugaourc Gazttit, which states that news had been received the previous night by an extraordinary express, to the effect that the Sultan was so ill that his physicians had unanimously declared that ha would not survive three weeks. The trial of the insurgents was expected to elose on Wednesday. Independent of the extraordinary force for which the special credit of 10,000,000 ir. naa ueen granieu, we ouagei or me .Marine for 1H40 makes the peace establishment of the Navy to be 40 ships of the line, SO frigates, and 330 other snips of minor force, including 40 steam ships, but only half these are to be kept alloat at one- time. Tha Carlisle have surpresed and taken the town of Calahnrra. The Semaphone and Sud of Marseilles of the 3d of July, and the Smyrna journals of tlie 19lh of June, contain copious correspondence, eon-firming the accounts given by the French telegraph of thn occupation of Aintab by the Turkish troops, and of the defeat of a corps of Egyptian cavalry. This correspondence is unanimous as to a war being Inevitable, and expresses the opinion that diplomacy can no longer prevent it. WATERSPOUT. W e copied a few days ago from a New York paper sn account of a waterspout which had bnen seen on the Hudson river. We learn from the Evening Post that it completely deluged with rain the country between Slockhriclgc and Hudson. It look place about four o'clock P. M., and became known to the passengers in the Hudson and Berkshire railroad by the in-tuntaneous appearance of one of the moat violent showers ever witnessed. In that mountainous region the accumulated water acquired an immense impetue which frequently had a very grand effect by creating in a moment cataracts of various sizes from every peak and cliff, which poured their united flood over the plain in every direction. About a quarter of a mile from Canaan the progress of Ilia cars was immediately arrested by the avalanche of sand which was swept with resistless force across the track, fairly imbedding the engine,and obliterating; all appearance of a railroad. II waa eome hours after the stoppage before sir ciear ins irarx, so as to snauio tha passengers roncil ine village. The bridge at Canaan waa much damaged, and only saved by a barn, which though always high waa floated against the bridge, and formed min anjrlo of the road a sort of butlraas, which strengthened the structures sufficiently to resist the flood. The waters swept over il, and around It, destroying the neighboring gardens and fields, and carrying off the fences lhat lay in Its course. The railroad waa ex-lenaively injured, the bridge and a large portion of the track having been swept away below Canaan, and tha track having been cither destroyed or extensively injured in exposed situations along the whole rango of the storm. 'iniion. A fellow who married a termagant who drove him to desperation, end finally to death, lust before dying, requested a friend to have the following brief yet nungnnt inscription upon Irs tomb: o'ai'n n juw

mi COLUMBUS, WEDNESDAY AUGUST 7, 1839. WEEKLY. VOLUME 29. NUMBER 61. PUBLISHED BY C. SCOTT It 8. DOUGLASS, At ttirae Dollarg a year, invariably In advance. 7Vf meek during f fieiin o Ut Legit latur$t and Wtek the remainder f the year. JAMES ALLEN, EDITOR, Office on State ftreet. Two dnon Wert of tlie Clinton Ban FRIDAY, AUGUST 2, 18a9. THE CURRENCY. , None but the knaves who essay to lead the ranks of the Loco Focos, and the simpletons who follow in their footsteps and echo their absurdi-lies, pretend, at this day, to advocate the doctrine of an exclusive metalie currency. The notion of annihilating the leading principles of the credit system, as it now exists in the enlightened and commercial world, and bringing mankind back to the semi-barbarous system of barter, is preposterous, because not feasible, and, because not feasible, criminal. No intelligent and honest member of an enlightened community, can seriously wish to see the wheels of civilization rolled back, and the savage rudeness of by-gone days restored. If such a member of community there he, whose social tastes are formed upon the model of those classic times, in 'McTry England,' when Robin Hood and Litde John, made Sherwood Forest immortal, by despoiling the wealthy traveller when the Norman barons roasted the plodding and usurious Jews upon grindirons to extract from them the secret of their hoards when ho. nest industry was the legitimate prey of the proud and the idle when the end and aim of government was extortion and not protection when ' man seemed to be brought into the world for no other purpose than to be the spoiler and the destroyer of his species if such man now exists, who prefers those days of chivalry, crime, and ignorance, to the sober safety, the virtue, and intelligence of the present, lethini enioll himself in the ranks of the metalie currency lovers, lot him split his lungs in responses to the mysticisms of Benton, lot him tear down the i nslitutions which an enlightened commercial system has created and, when successful in the work ol its demolition, he can then revel in all the luxury of savage life. The credit system is, itself, civilization, and its destruction is not the precutsoi, bill the reality, of barbarism. The currency of the United States, or of any other country that boasts of civil refinement, cannot exist exclusively in a metalie form. This is an axiom, that to the political economist, who has well studied the principles of his science, is as evident as that a part is not equal to the whole. A paper money system is 'not merely indispensable, but it is inevitable, in the state of civilization and commercial perfection, to which wo have arrived. Like every other incident in human existence, it is capable of exerting the most bcnificcnt or most injurious influences upon society, just as its tendencies are directed by wisdom or ignorance. The paper money of our country, just now, proves that ignorance, rather than wisdom, has been actively exerted in its creation and employment. Let the subject be examined with calmness. Two considerations irrosistably force themselves upon the mind of every one, who, in relation to this subject, thinks sensibly and feels patrintical- 1. A paper currency is indispensable in the present state of the country. 2. A paper currency should be established, con-soncnt with the spirit of the age, based on the precious metals, and commanding universal and unchanging confidence. There are now eight hundred or moro banks in the United States. Each, as far as its business relations with other institutions and with the public will permit, is independent. The natural and inevitable conscqucnco of leaving to these eight hundred banking institutions the business of coining paper money, is an over issue of that species of currency. The object of each, and indeed it is the real interest of each, is to furnish as great a share of the common currency as it can, for by doing so it derives a revenue from credit instead of capital, It requires no very extensive acquaintance with tho scionce of political economy to perceive, that the inevitable result, arising from the combined action of the eight hundred banks, each striving to add as much as possible of its own paper to the common currency, must be a vitiated circulating medium. Exposed to the contingencies of individual and public caprice, affected in its value by the circum stances of time, of distance, of location, and of interested opposition, a currency, afforded from such a multitude of varient sources, unconnected in their operations and directed by no common governing principle, can never bo a healthy one, even if the sources from whence it flows should, in themselves, be unimpeachably pure. As well n ight we look for effective results from an army which acknowledges no chief, but in which each regiment follows tho independent volition of its own leader. Each regiment may have all the re buisitcs necessary to military success its ranks may lack neither bravery nor discipline its ofli cors may unite courago with prudence its leader may be accomplished in all that befits his station-but, isolated, and acting without concert with the othor components of the army, its energies will not only be wasted, but general defeat and ruin must be the certain consequence. Similar, it strikes us, must be the tendency of the present system of banking in tho IT. States. Tho whim of abolishing the paper system and establishing a currency exclusively of gold and silver, is loo absurd to enlist the advocacy of any sensible man who will take the trouble to invest! gate the business operations and relations of the country. It would, therefore, be worse than fu. tilo to adduce any arguments against it. Let it remain, where it is, the hobby horse of Loco Foco leaders and aspiring demagogues. The existing evils in our currency must bo remedied by an improvement in the paper system. The history of the last twenty years teaches us and history has ever been acknowledged the very best of teachers that while the U. S. Bank was permitted to move in its appropriate sphere, untrammelled and unscathed by the tyrannical in terference of tho national government, the paper currency of tho country was sound. There must have been a cause for this and that cause is to be traced to the controlling influence which the United States bank exercised over the paper issues of the country. Highly exceptionable as were some of the features of the charter of that institution, one thing must be conceded, that, during its connexion with the government, the country never was more generally prosperous. Enterpriso and industry enacted wonders, because they were supported by public confidence. From the highest to the lowest, from the richest to the poorest, every man was at work, and every man was happy, because he felt that his exertions would be adequately rewarded. Not a beggar, unless it might be some foreign pauper, was to bo seen in our streets. Public improvements roso into existence every where. Money was just plenty enough to meet all exigencies, and paper dollars just as highly prized as silver ones. No man needed gold for the purposes of travelling, because the bills of the United States bank, its drafts or its checks, took up less room, were much more easily carried, and were in just as goodcredit. Exchanges, to any amount, and for any purpose, could be effected between the most distant sections of tho Union, for almost nothing. It is not so now. Specie has disappeared almost entirely, and bank notes circulate with difficulty and distrust. Remittances cannot be effected without immense sacrifices. Where, once, all was active vigor in the business world, there is now a destroying paralysis. Can tho days of our prosperity bo restored! They can but, to restore them, we must retrace our steps. We must either invite Mr. Uiddle back to tho post he occupied nine years ago, or we must invent a new institution that will restore us the blessings we have lost It is gratifying to perceive that the American public is every where awaking to the consideration of this subject. Even in quarters, where, heretofore, the utmost malignity has been manifested towards the mere name of a National Bank, the necessity of creating some controlling institution of the kind is not merely discussed in good feeling, but warmly advocated. That Heaven may enlighten Congress, at its next session, and nfluence them to aid in bringing back to us the good old days of John Quincy Adams, should be the aspiration of every' honest American. "FINISH TUB WORK!" Such is the watchword of tho Van Buren party in Ohio. The moro the whip holders of that party exercise their tinkering propensities on tho banks and currency and finances of the State, the more clamorous are their vociferations for bank reform. In by gone times, the recollection whereof it is pleasant in this harrassing season to dwell upon, these State institutions wcro viewed with the friendliest feelings by this same man-worshipping, bank-hating party. But it was an evil hour for the banks when it began to lavish upon them the caresses of its first lovo. The fruits of that honied season began to manifest themselves in due lime, in a brood of new banking corporations. As, in sickly times, every disease assumes more or less the character of tho prevailing epidemic, so corporations.chartcrcd for entirely different purposes, shot up into little monopolies, and threw off upon community their bank notes. As the results of its own bungling labors the work of its own unskilful hands began to rise up before its astonished eyes, it immediately saw tho necessity of commencing a general process of mending. But here a new dilficul-ty arose. To patch up its own ungainly work alone would expose too palpably its' incompetency and want of qualifications to manago discreetly the complicated machinery of Stato affairs; a doctrine which its disciples were determined not to believe or even suspect, much less acknowledge, como what might. A difficulty 1 Pardon tho mistake. What can be difficult (o a parly so fertile in all tho resources of political cunning, to whom consistency is but a morning cloud, and constitutions a mere cobweb! To hide its own errors, it was only necessary to concoct a general system of patching and cobbling, and stretch it over all the banking institutions in the State. Such asystem was devised, and christened "Bank Rnform." Whereupon, proclamation went forth to all the faithful who go for the man Van Uureu, declaring that every one who did not believe in his heart and acknowledge with his mouth that bank reform was democracy, was no democrat, but a bank bought federalist. A new vision seemed to have been revealed to these political seers, their eyes were unsealed, they saw, for tho first time, with unclouded optics, that tho banking system was radically wrong. The genius of reformation must bo commissioned by this man-party to go through it and overhaul it in all its ramifications. Well, the people do not like to be called hard names -they do not liko to have their democracy questioned. They had boon well enough satisfied with the banks, at least until this party began to meddle with them. They had no particular objections to reform thoy were not sure but it was necessary to the existence of the party's previous bank legislation, and finally gave them, what they wcro mad to obtain, power. Then followed bank reform with a vengeance; a reform exactly in character with all the other reforms which for tho last ten yenrs have distinguished that party; a reform which made reform a hundred times more necessary than it had ever been before. The consequence was, as all sensible men anticipated precisely as it was in other States. The people, indignant at beholding their interests thus tampered with, sent here legislators, who undid this party work as far as they could do it, for years could not entirely undo it. But new and desperate efforts were made. Bank reform was thundered from all the party presses within and without the State, until the public ear was actually deafened with the cry. The gubernatorial candidate took tho field, a thing unparalleled in the political annals of tho State grave senators of the federal legislature laid aside the dignity of their station, plunged into the squabble of Stato politics, and with all the plausibility which party sophistry could weave around the subject, preached it incessantly into the vexed ear of the people. Once more, as demagogues have done a thousand times before, they succeeded in placing the man party in power. And now, thoy have inflicted upon the Slate a new vamped edition of the identical system, which the people here and elsewhere have again and again thrown from their shoulders and trampled under their feet. And while we are again witnessing and smarting under the practical operation of these new fangled theories, though the reformers have given full sweep to their ample powers, and we were fain hoping that the work was well nigh consummated, the cry still is "Bank Reform finish the work." When is there to be an end to this mischief! If this reform be necessary, who created who augments who pcrpetuatos this necessity ! Let every reflecting man ponder well the answer to these questions. THE SMALL NOTE LAW. The ostensible object of the small note law, passed last winter, was to force into circulation a larger amount of gold and silver. This is to be done by withdrawing from circulation all notes of a less, denomination than five dollars, and of course, specie must be had for carrying on the small exchanges. If this could be carried into effect it would bo forcing upon the people a cur rency not of their own choice. The Banks were paying specie for bills before Any body who wanted specie for his bills could have it on demand, and if specie was not demanded, it was because bill-holders preferred bills to specie. Of course, if the law produces any change, it must be against the will of those upon whom it operates.But it will have another effect. The banks are allowed to issue bills to three times the amount of their specie. Their bills under the denomination of five dollars must be withdrawn from circulation and specie paid for them. Upon the specie thus paid out, they had a right to issue three times its amount in bills. Of course, when the specie is withdrawn from their vaults, they must not only withdraw from circulation an amount of paper equal to tho specie paid out, but throe times that amount. The result will be to leave in circulation only one-third as much money, so far as the bill law takes effect, as was in circulation before. 77ie inevitable tendency of this is, to lower the price of produce, and to reduce the price of labor, and to make the payment of debts more difficult. But this is not all. Owing to tho financial difficulties in England, and the consequent reduction of the prices of American cotton in the English market, tho exchanges aro more than ever against this country. America owes England for goods. This debt was to be met by American cotton. Tho price of cotton having fallen, leaves a large balance against this country. The Bank of England wants specie for its vaults; it will, thcreforo, forco payment from this' country in specie. Thus an extraordinary run for specie upon tho banks of this country is from abroad, and to enable the banks to meet this with ease, the Legislature of Ohio, has produced an extraordinary run for specio at home: and for every dol lar of specie paid out, the banks must withdraw from circulation tiirke dollars of paper, or they arc exposed to tho penalties of tho law, for keeping out too much paper for tho specio in their vaults. Let the distress that is coming over this country verify these remarks. Let tho people think of it. We say tho ostensible object of tho law, bo- cause we have no doubt the real object was to do something, without caring much what, to meet the expectations that had been raised by the sense less and rabid cry of "Bank V cform," during the fall elections. What could they have done worse! Again. Let the people who work roR waoks, cr WHO IIAVK PRODUCE TO BELL, Or DEBTS TO PAY, THINK OP THESE TIIINOS. ATTENTION TO POLITICS. Tho study of politics is thought by some peo plo unworthy their attention. Is it really beneath any man to inform himself what is going on among men! What measures aro taken for his happiness or misery! What means are resorted to for tho preservation or ruin of his country! "But there is too much intrigue too much corruption too little of patiiotism and fair dealing!" Indeed 1 This may be nay, it probably is truo. But who is to eludo the wiles and baffle the finesse of designing and wicked men, if the honest and intelligent, the sober and reflecting shrink from their duty! Every American citizen has a birthright to protect, and is in a measure responsible for the public doings of tho nation, How then can any citizen who has sworn alle giance to our government and laws, withdraw himself from this responsibility! The memory of the past ought to move him, the dangers of tho present ought to cxeito his vigilunce, and the time lo como has a claim upon him too strong and too sacred to be shaken off or lightly treated. "But it is not dignified this party warfare has no charms for sober men!" All this may be true. Do you think the starvations and buteherings of the revolution had charms for our forefathers! At present you see a struggle between two great parties. Each party charges that the measures sought to be sustained by tho other are unsafe and tend to the destruction of our best interests. Aught not every man, then, to examine and see which is right, and use every honorable means to oppose the wrong! Let him who will not do so, lay no claims to the character of a patriot. The object is sufficiently good and great to-give character and dignity to the pursuit. Men have been found, and those not a few, who were happy to spend their lives to ascertain the laws which govern the formation of a chrys-tal or the decomposition of a gas. They ; ve braved exposure and fatigue, and wandered over the face of the whole world, to learn tho nature and habits of animals and insects, of reptiles and fishes. They thought it dignified and noble thus to scrutinize the workings of nature. They were right. Why then is It not dignified to study the ways of men the various grades of intellect, and tho laws which govern tho human family! It is only when politics degenerate into personal strife and neighborhood altercations that the study becomes ignoblo and unmanly. It is only by the attention of sober and honest men that an elevated tone can be given to political discussions. Is it not time, then, to give more attention to these matters. Let the public press bo exerted to lay facts before the people. The election is coming on. Let the right be known, and then let it be pursued. Let us show ourselves worthy the high behests that our fathers bequathed to us. Let every man do his duty, and the lesult may be safely trusted to the honest hearted, hard handed, the many headed people. THE CLOVEN FOOT AT LAST. The " Jefl'ersonion," a Van Buren paper published at Carrolllon, speaking of tho Columbus mechanics in connection with the subject of Penitentiary labor, intimates that while they persist iii voting independently and until they put on the yoke, they are to expect no sympathy from that quarter. Hut he goes on to say "As as individual wears prepared to resume our olJ ground upon this subject a subject we had let puss, consequent upon the course of those most interested an soon as the mechanics are prepared to unite with us in the contest." The mechanics have not been in the dark all this time. They have known from the beginning for what object they wore haunted with Stale Auditors, and dogged with Post Office clerks. No sooner do they get up a meeting for consultation and deliberation among themselves, than in stalks an emissary from the Post Office, with pockets full of resolutions, ready to cram down their throats, nolens volens, as if tho mechanics did not know their own business, and wcro to be taken by the nose and led about by striplingquill-drivers from the Post Office. We have no doubt tho Jcffersonian expresses the real sentiments of the party. We do not write this to enlighten the mechanics. They understand their own affairs without any aid of ours, and unless we have mistaken their character, they will not be cajoled from their purpose by offico hunters, nor whipped into submission by the hangcrs-on of tho public treasury. The articlo in the Jcffersonian, shows as clearly, as if traced in lightning along the midnight cloud, the estimation in which mechanics and laborers are held by theso fustian democrats and holiday patriots. They do not seem to know that mechanics, like oilier men, have political principles. They think, if they can hold out to mechanics and laborers the prospect of removing a grievance which has no connection whatever with political questions, and of putting a litllo more money in their pockets, they will be ready to forswear their long cherished principles, to forget their love of national freedom and individual liberty, a:id basely truckle to the usurpations and connive at tho detected frauds which already weigh down the present Administration. We are mistaken, if the present be a time, when such humiliating propositions can be mado with impunity to the honest and hard working people of America. DEMOCRATS LOOK AT THIS. The last Statesman contains the following: "Poor fellows, they must have sweat wonderfully this hot weather lo have brought forth such magnanimous notions especially as the Whig Jteairdrr of Buffalo was receiving about the same linio a most low and vulgar as well as lying speech of Mr. Clay, to his honor in lliiliah style!" Where are theold Democrats of 1811, 1 3 1 4 and 'IS! How long will they bear such wanton insults from the Stato Printer! During the last war Mr. Clay was tho champion of Democratic principles in tho House of Representatives. Every Democrat of the country was prourl lo own him. Their pulses beat high with nationid prido as they heard their sentiments echoed through the capitol in tho manly and impressive tones of his voice. Mr. Clay was ulso chosen by tho Democratic President and approved of by tho voice of tho nation to assist in making the treaty of peace. Who but Mr. Clay saved the Union from dissolution during the agitation of the Missouri question! Who but Mr. Clay saved tho country from thn distractions of nullification and tho horrors of civil war by effecting a compromise upon tho Tariff question! While Mr. Clay and General Harrison were serving their country, in times of darkness and danger one loading tho councils of tho nation in Congress the other leading her victorious armies in the field where and what was then tho State Printer, that he should now be allowed to in sult the sense of the nation and besot the characters of these well tried patriots, with continual detraction and abuse! Though living, their fame and and their names have long since become national property, honored at home and respected abroad. They have stood and still stand among the brightest stars in the constellation of American patriots. And yet, the State Printer, true to his vocation, and worthy of his hire, attempts to blacken their memory and blight their fair fame by such reckless libels as that quoted above. He, the editor of the Statesman, steps out in front of the old Democrats of the last war (if, indeed, nny such read his paper,) and calls Henry Clay "low! vulgar!!" and a LIAR!!!" Will the old Democrats, who have seen their country in danger, and the young Democrats who emulate the charactorof their fathers, sufferthem-selves to be thus insulted, and their old and long tried champion thus traduced! Their answer will bo an indignant " NO!" Tho people will blame no one for a fearless and manly discussion of political principles. They like that. It is a right, to preserve which they have sacrificedthe blood and treasure of two wars. But when it degenerates into a reckless abuse of those honored and distinguished men who havo struggled longest and hardest to preserve their liberties, they will think it high time for a virtuous, intelligent, high-minded, and patriotic peoplo to let their voices be heard in a decided and eloquent rebuke. OFFICE! OFFICE!! OFFICE!!! " Give us more office ! " is tho continual cry with which the present Administration is beset by its hungry partizans. Not content with tho gen eral turning out of office of all who opposed the high handed and dangerous measures of the Jackson Van Buren Dynastv, the clamor is still kept up against tho few, who, from some cause or other, have been mado exceptions to tho general proscription for opinion's sake, and still remain in office. Speaking of the few whigs who have not been ostracised, and wondering why the screws havo not been applied to all, the Statesman expresses indignation and astonishment at this for bearancc, and says "We are satisfied that these things are not consis tent with the President's feelings, then in the name of patiiotism why are tliey continued 1" So the President is not to blame. Freedom of thought and opinion "are not consistent with tho President's feelings." Why then "in the name of patriotism" is any man who ventures to think for himself allowed to hold an office! But hark, again "Why are the many worthy applications of those friendly to Ilia administration turned aside, and this worthless race of whig dandies and loafers continued to the third and fourth generation mere paupers upon the government I " A "worthless race of dandies and loafers" might not seem to the Statesman quite so bad, but then, when you come to talk of "wiuu" dandies and loafers that is altogether too much for Locofoco flesh and blood. It is also provoking, that after the President has multiplied the offices and expenses of Government, tlicro are still "many worthy applications of those friendly to the ad ministration turned aside"!! However, there is some consolation in the idea that this is "not consistent with the President's feelings." Ho would gladly stop every "dandy's and loa fer's" throat with an office, providing ho were not a "whig" dandy and loafer. It doubtless is very trying to his sensibilities, to ' turn aside" the "many worthy applications" of his fiiends, lo be permitted to become, "paupers upon the go vernment? but then ho will be able to do the handsome thing by them, if he should ever succeed in establishing tho thousand legged Treasury. Do not let your friends despair, Mr. States man, there is no dandy or loafer, except "whig" dandies and loafers, who may not aspire, sooner or later, to become a SwARTwouTor a Prick !! rRF.CEPT vs. PRACTICE.. The President, Martin Van Buren, recommends to the peoplo In keep THEIR TREASURE in tho hands of individuals as Sub-Treasurers, and declares he will "sink or swim" with that measure. Ho sees tho money of tho peoplo lost by' millions in this way, but it does not effect his pocket and therefore ho persists. But when he started from Washington on his Northern electioneering tour, he deposited HIS OWN PLATE (which we havo no doubt is very valuablo, as this pretended democrat lives in princely style,) IN THE BANK. This fact, as the Stato Printer would say, "speaks trumpet trngucd, and in a Otoe of UtuiuUr" .gqinvt tha sincerity of Van Buren's professions. This conduct is more eloquent than ten thousand sermons. He recommends to the people to keep THEIR money in the hands of HIS Sub-Treasurers. Why does he not do the same with hi own! Tho only answer is, he is afraid it will take lo itself legs and follow the Swartwotits and tho Pi ices. Samuel Medarv Rksionkd! The last Statesman, after noticing Mrs. Webster's dress, adds tho following: "This is none of nnr business, hut we were just thinking where the Jt,t!5,000 "rint" had gone! Oh dear, lovely whiggury ! !" None of your business! 1 What! are you serious! Do you actually mean to say it is none of your business what Mrs. Webster wears 1 1 Have you actually resigned your functions as general inquisitor of ladies' gowns andchildrens' diapers! What will tho Statesman do for somebody to occupy the large portion of its columns hitherto devoted lo that kind of intelligence! From the Correspondence of the Nona American. Nsw Yonit, July 28, 3 P.M. Arrival of the British Hucen. SIX DAYS LATER FROM EUROPE. The steamer British Queen arrived this morning; from London via Portsmouth, bringing London papers of the evening of the 1 1th and Liverpool papers of the lOib of July. She had not her sails set Iwenty-four hours during the passage. The wind had been uniformly "dead ahead," blowing very fresh at all times and causing a very heavy head sea. Her coat has been estimated at 1375,000, which includes her furniture and fixtures of every kind. She is 1863 tons burden, builders' measurement, and upwards of 3000 tons by .custom house measurement. Her model ia purely American her paddle wheels have not taken sufficient hold of the water to propel her at a rate equivalent to the power of her engines; but this will be remedied by taking in a full cargo or several hundred tons of iron ballast in New York previous to her sailing on the 1st of August, in company with the Ureal Western, no enort will De spared to got ber off on that day. Among the passengers by the Queen are Mr. Mudgs and Mr. Featherstonhaugh, appointed by the English Uovernmeut to mate a new survey or the Boundary Line between Maine and New Brunsick. Our dates are up to the evening of the 12th day, on which it was universally expected that the Bank of England would raise the interest to six per cent. The notice, however, did not take place, though it was intimated from the Bank Parlor lhat the interest would probably be advanced on the following Thursday, the 18ih. The Spinners at Manchester have renewed their agreement to " woik short," notice of which was published in London on the 11th, and it waa supposed that a further decline in cotton would probably follow. The bullion in possession of the Bank of England has been still farther reduced whilst the accounts from the manufacturing districts are entirely gloomy as to the export trade. This all tends to the impossibility of describing any real improvement in the general condition of monetary affairs. American securities remain all unsaleable, unless at the most ruinous quotations, with the exception of the shares of tha Bank of the United Stales, which have been sold in considerable amounts at 23 7s 6d, and this afternoon were withheld by one influential party unless at 23 10s. Even one offer for the best of the Pennsylvania Stocks, at a price lower than 90, has gone off without effect, and there is indeed no great improvement since the departure of the Great Western steam ship. In tlie Cotton market affairs have become even considerably worse; for the fall at Liverpool has been no less thau J per lb. during the short lime which has elapsed since the Great Western sailed. A letter from im mnal AininRiit firm ill tliA trurtn BtnfA ilia, ih largest spinners buy only from forty to fifty bales per day, merely to Keep open trie mills; and any person desirous of speculating might almost make his own prices." 1 no oisturDances at Birmingham eontinue, but the Chartism have not attempted to make head against the regular troops nor bad any lives been lost in the various frays with the police. Mr. Lovett, the secretary, and Dr. Taylor and Mr. Harvey, two of the most revolutionary members of the convention, have been arrested and aro now in Warwick Jail. There is no doubt that as now organized, the Chartist movements may be very easily suppressed; but should Mr. Attr wood, as some parties appear to anticipate, attach himself to that parly, the lids of population which would follow such a leader would probably trample under foot both the police and the troops. There is, however, no real reasons for supposing lhat Mr. Alt-wood would hastily take the final step in a revolutionary cause; though once driven into oppositon to the government, this man has the power unquestionably lo be the author of the miehlieat events. Tha Whig minialry remain in power, and are nightly procuring the ruling of the supplies, and taking every means of drawing the Parliamentary session to a close. The time of the prorogation is not yet fixed nowever nor is now prooaoie wai uie rariiamenl will be absolutely dissolved. Tlie troops of Holland are quietly taking possession of the long disputed territory of Hamburg and Luxemburg, and the large army which has been so long kept up by that power on the Belgian frontier, is gent ly dispersing. The packets from New York arrived at Liverpool on the Uth, with dates to the 10th of June. London, 10th, 3 o'clock, P. M. The funds have an upward tendency. Consols for the month of August are quoted st 92a$. Jiank stock is steady at 192, and the reduced Three and a Half per cents, have risen to 100 1-8. Rates of discount continue at S to 5 J on the first bills, and 6 for those of secondary character. The failure of a most respectable firm in the Stock E xchange to a considerable amount is announced in the Londou evening papers of the 10th names not mentioned. Paris papers of Monday the 8th, publish a letter from Vienna, dated 28th June, taken from jfugaourc Gazttit, which states that news had been received the previous night by an extraordinary express, to the effect that the Sultan was so ill that his physicians had unanimously declared that ha would not survive three weeks. The trial of the insurgents was expected to elose on Wednesday. Independent of the extraordinary force for which the special credit of 10,000,000 ir. naa ueen granieu, we ouagei or me .Marine for 1H40 makes the peace establishment of the Navy to be 40 ships of the line, SO frigates, and 330 other snips of minor force, including 40 steam ships, but only half these are to be kept alloat at one- time. Tha Carlisle have surpresed and taken the town of Calahnrra. The Semaphone and Sud of Marseilles of the 3d of July, and the Smyrna journals of tlie 19lh of June, contain copious correspondence, eon-firming the accounts given by the French telegraph of thn occupation of Aintab by the Turkish troops, and of the defeat of a corps of Egyptian cavalry. This correspondence is unanimous as to a war being Inevitable, and expresses the opinion that diplomacy can no longer prevent it. WATERSPOUT. W e copied a few days ago from a New York paper sn account of a waterspout which had bnen seen on the Hudson river. We learn from the Evening Post that it completely deluged with rain the country between Slockhriclgc and Hudson. It look place about four o'clock P. M., and became known to the passengers in the Hudson and Berkshire railroad by the in-tuntaneous appearance of one of the moat violent showers ever witnessed. In that mountainous region the accumulated water acquired an immense impetue which frequently had a very grand effect by creating in a moment cataracts of various sizes from every peak and cliff, which poured their united flood over the plain in every direction. About a quarter of a mile from Canaan the progress of Ilia cars was immediately arrested by the avalanche of sand which was swept with resistless force across the track, fairly imbedding the engine,and obliterating; all appearance of a railroad. II waa eome hours after the stoppage before sir ciear ins irarx, so as to snauio tha passengers roncil ine village. The bridge at Canaan waa much damaged, and only saved by a barn, which though always high waa floated against the bridge, and formed min anjrlo of the road a sort of butlraas, which strengthened the structures sufficiently to resist the flood. The waters swept over il, and around It, destroying the neighboring gardens and fields, and carrying off the fences lhat lay in Its course. The railroad waa ex-lenaively injured, the bridge and a large portion of the track having been swept away below Canaan, and tha track having been cither destroyed or extensively injured in exposed situations along the whole rango of the storm. 'iniion. A fellow who married a termagant who drove him to desperation, end finally to death, lust before dying, requested a friend to have the following brief yet nungnnt inscription upon Irs tomb: o'ai'n n juw